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China Morning Snapshot – 04 January 2021China Morning Snapshot – 04 January 2021 |
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Both PP and LLDPE contracts traded in the positive territory on Dalian Commodity Exchange this morning, riding on the historically high international equity market.
Details on the spot and futures prices are shown in the following table:
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04 January 2021 |
Prices in CNY |
USD Equivalent |
Changes in CNY |
Changes in USD |
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Combined and reported by CommoPlast |
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Dalian Commodity Exchange (Mid-day closing) |
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PP 2105 |
CNY 7978 |
USD 1081 |
+CNY 15 |
+USD 2 |
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LLDPE 2105 |
CNY 7675 |
USD 1040 |
+CNY 70 |
+USD 11 |
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Spot Domestic Prices (EXW China, Cash equivalent) |
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PPH (East China) |
CNY 8050-8250 |
USD 1091-1118 |
+CNY 50 |
+USD 8 |
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LLDPE (North China) |
CNY 7700-7950 |
USD 1044-1077 |
+CNY 50 |
+USD 8 |
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**All USD equivalent prices are exclusive of 13% VAT |
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Total inventories at Sinopec and CNPC’s warehouses piled up 145,000 tons throughout the holiday to 725,000 tons as of 04 January 2021.
Trading activities in the local market are rather mediocre during the early trading hours of the first trading of the year. A number of manufacturers in Northern and Eastern China are gradually coming back from the environmental control and electricity limitation, however, remain cautious when it comes to large purchases.
In the meantime, small-scale manufacturers started to let workers take off for the Lunar New Year holidays citing the lack of end product orders.
Country
China
